Question
Asked Dec 8, 2019
1 views

A corporation prepared its statement of cash flows for the year. The following information is taken from that statement:

Net cash provided by operating activities

$ 14,500

Net cash provided by investing activities

4,200

Net cash flow used in financing activities

(12,400)

Cash balance, end of year

9,100

 

What is the cash balance at the beginning of the year?

check_circle

Expert Answer

Step 1

Statement of cash flows:

This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities. Operating activities include cash inflows and outflows from business operations. Investing activities includes cash inflows and cash outflows from purchase and sale of land or equipment, or investments. Financing activities includes cash inflows and outflows from issuance of common stock and debt, payment of debt and dividends.

Step 2

Calculate the cash balance at the begin...

help_outline

Image Transcriptionclose

Cash balance end of the year (Net cash provided by operating activities+ Beginning cash balance = Net cash provided by investing activities - Net cash flow used in financing activities = $9,100 – ($14,500 +$4,200 – $12,400) = $9,100 – $6,300 = $2,800

fullscreen

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Business

Accounting

Related Accounting Q&A

Find answers to questions asked by student like you
Show more Q&A
add
question_answer

Q: Janco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ende...

A: Click to see the answer

question_answer

Q: For each of the following errors, considered individually, indicate whether the error would cause th...

A: Adjusted Trial Balance Adjusted trial balance is a trial balance prepared at the end of a financial ...

question_answer

Q: From the list that follows, identify the accounts that should be closed to the owner’s capital accou...

A: Closing entries: The journal entries prepared to close the temporary accounts to Retained Earnings a...

question_answer

Q: ACC 622 Problem 11 chapter 4 see the image attached for the  diagram question Requireda. Discuss the...

A: a. Control weaknesses and related risk:

question_answer

Q: Flash E Card Manufacturing manufactures software parts for the computer software systems that produc...

A: Calculation of lowest acceptable in-house price:

question_answer

Q: a. Determine the gross pay for the week. b. Determine the net pay for the week.

A: a. Compute gross pay for the week.

question_answer

Q: An improvement made to a machine increased its fair value and its production capacity by 25% without...

A: Property, Plant, and Equipment: Property, Plant, and Equipment refers to the fixed assets, having a ...

question_answer

Q: A business operated at 100% of capacity during its first month and incurred the following costs: ...

A: Calculate the amount of production cost for 16,200 units (17,800-1,600 units).

question_answer

Q: On May 10, Monty Corp. issues 1,900 shares of $4 par value common stock for cash at $13 per share.Jo...

A: Calculation of cash received:.  Calculation of amount common stock issued:  Calculation of amount pa...